IT’S OFFICIAL: America Is Now A Banana Republic

Sunday, November 7, 2010
By Paul Martin

Henry Blodget
BusinessInsider.com
Nov. 7, 2010

One of the hallmarks of banana republics, says the NYT’s Nicholas Kristof, is income inequality.

In some countries, the wealthiest 1% of the population takes home 20% or more of the national income.

And now the same is true in America:

The richest 1 percent of Americans now take home almost 24 percent of income, up from almost 9 percent in 1976. As Timothy Noah of Slate noted in an excellent series on inequality, the United States now arguably has a more unequal distribution of wealth than traditional banana republics like Nicaragua, Venezuela and Guyana.

The Rest…HERE

Leave a Reply

Support Revolution Radio